Standard Life’s wholly owned restricted planning business, 1825, will be acquiring a London-based chartered financial planning firm. Cumberland Place Financial Management has £400m in assets under management and is headed by directors Robert Goldschmidt and Tony Moss, who will continue to run the business following the transaction. The merger is expected to reinforce 1825’s presence in the capital and add over twenty employees, including six financial planners, bringing 1825’s total financial planner count to more than seventy-five.
1825’s CEO Julie Scott said:
“I am excited to welcome Cumberland Place Financial Management Ltd to 1825, they are a fantastic addition to the team.
“We have a strong connection as we are both passionate about the client and doing the right thing.
“As the demand for financial advice continues to grow in the UK we want to be able to offer the best service and proposition possible with a great set of experts to support them.”
Mr Moss also commented on the merger:
“We have built a strong business over 15 years by putting the client at the forefront of everything we do.
“1825 share these values and I am confident that this acquisition will be a tremendous success, allowing us to build on our existing foundations and provide additional resource and expertise to our clients.
“We are delighted to become part of 1825 which will provide our clients with a fantastic service proposition as well as enhanced career opportunities for our employees.”
